Wednesday, March 29, 2017

Populism Is the Result of Global Economic Failure

The rise of populism has rattled the global political
establishment. Brexit came as a shock, as did the victory of Donald
Trump. Much head-scratching has resulted as leaders seek to work out why
large chunks of their electorates are so cross.
The answer seems pretty simple. Populism is the result of economic
failure. The 10 years since the financial crisis have shown that the
system of economic governance which has held sway for the past four
decades is broken. Some call this approach neoliberalism. Perhaps a
better description would be unpopulism.Unpopulism meant tilting the balance of power in the
workplace in favour of management and treating people like wage slaves.
Unpopulism was rigged to ensure that the fruits of growth went to the
few not to the many. Unpopulism decreed that those responsible for the
global financial crisis got away with it while those who were innocent
bore the brunt of austerity.